QUESTION 1 1.1 REQUIRED Use the information provided below to calculate the following variances. Note: In...

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QUESTION 1 1.1 REQUIRED Use the information provided below to calculate the following variances. Note: In each case state whether the variance is favourable or unfavourable. 1.1.1 Material purchase price variance 1.1.2 Material quantity variance 1.1.3 Total material variance (without using the answers from the previous questions) (20 Marks) INFORMATION To produce one unit of product Zap a standard quantity of 3 kilograms of Material Z at a standard price of R6 per kilogram is allowed. 1.2 REQUIRED Calculate the net wage of Joanna for the last week of May 2022 from the following information. (4 marks) (4 marks) (4 marks) The cost figures for June 2022 showed that 19 800 kilograms of Material Z was purchased at R6.30 per kilogram. 6 000 units of product Zap were produced using 18 900 kilograms of Material Z. Pension Income tax (4 marks) INFORMATION Joanna is employed by Gumede Enterprises. The normal working week is 40 hours. Joanna worked for 46 hours during the last week of May 2022. She is remunerated at R150 per hour during normal working hours. Overtime is calculated at 1½ times the normal rate. The following are her deductions for the week: Medical aid R400 8% of the normal wage 20% of the taxable income Gumede Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. 1.3 REQUIRED Calculate the remuneration of Redford for 02 September 2022. INFORMATION Redford, an employee of Norflex Limited, is remunerated using Taylor's differential piecework system. The following details apply: Standard time allowed Standard workday Normal wage rate Premium Redford produced 180 units on 02 September 2022. (4 marks) 20 units per hour 8 hours R200 per hour 80% of piecework rate if below standard 120% of piecework rate if standard or above QUESTION 1 1.1 REQUIRED Use the information provided below to calculate the following variances. Note: In each case state whether the variance is favourable or unfavourable. 1.1.1 Material purchase price variance 1.1.2 Material quantity variance 1.1.3 Total material variance (without using the answers from the previous questions) (20 Marks) INFORMATION To produce one unit of product Zap a standard quantity of 3 kilograms of Material Z at a standard price of R6 per kilogram is allowed. 1.2 REQUIRED Calculate the net wage of Joanna for the last week of May 2022 from the following information. (4 marks) (4 marks) (4 marks) The cost figures for June 2022 showed that 19 800 kilograms of Material Z was purchased at R6.30 per kilogram. 6 000 units of product Zap were produced using 18 900 kilograms of Material Z. Pension Income tax (4 marks) INFORMATION Joanna is employed by Gumede Enterprises. The normal working week is 40 hours. Joanna worked for 46 hours during the last week of May 2022. She is remunerated at R150 per hour during normal working hours. Overtime is calculated at 1½ times the normal rate. The following are her deductions for the week: Medical aid R400 8% of the normal wage 20% of the taxable income Gumede Enterprises contributes the same amount as the employees towards the medical aid fund and pension fund. 1.3 REQUIRED Calculate the remuneration of Redford for 02 September 2022. INFORMATION Redford, an employee of Norflex Limited, is remunerated using Taylor's differential piecework system. The following details apply: Standard time allowed Standard workday Normal wage rate Premium Redford produced 180 units on 02 September 2022. (4 marks) 20 units per hour 8 hours R200 per hour 80% of piecework rate if below standard 120% of piecework rate if standard or above

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